Weighed down by a struggling Chinese market, international sales of Swiss timepieces fell by 2.8% in value last year. In December, the fall accelerated to -5.4%…
A year to forget for the Swiss watchmaking industry, weighed down by the collapse of both the market and Chinese tourism…
On the contrary, there was no Christmas miracle at the end of 2024. And “the contraction of Swiss watch exports intensified in December”, with a drop of 5.4% to 2 billion Swiss francs ($2.2 billion), just revealed by the Swiss Watch Federation.
As a result, exports of Swiss timepieces ended the year 2024 down 2.8% at 25.9 billion Swiss francs ($28.5 billion). In volume terms, the decline was even more marked, at -9.4% to 15.3 million pieces, or 1.6 million units less than in 2023.
Better resilience of luxury models
The reason for this more pronounced drop in volume than in value is linked to the greater decline in less valuable categories, namely Steel (-7%) and Other Materials (-12.2%).
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Read also > Swiss watch exports down again in November
Front page photos: © Rolex
